Commerce

World Bank plan investment in city projects

KARACHI (Sarzameen News)- Mayor Karachi Wasim Akhtar said Karachi facing multi faceted problems and about fifty percent of city population was living in slums where poor water supply and drainage with improper sanitation conditions and broken roads became main hurdle in their development. World Bank’s cooperation in resolving these issues is good omen, however city’s critical

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SBP launches Systemic Risk Survey (SRS)

KARACHI (Sarzameen News)- State Bank of Pakistan (SBP), being the central bank and banking supervisor, plays a pivotal role in ensuring stability of Pakistan’s financial system. In pursuance of SBP Vision 2020, it is committed to strengthening its financial stability regime to identify and manage systemic risks arising from within and outside the country’s financial system.

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Zong 4G launches Smart Car solution, a realm of new opportunities

ISLAMABAD (Sarzameen News)- Leading the digital innovation in the industry, Zong 4G started the new year, 2018, with yet another state-of-the-art 4G enabled product, Zong 4G Smart Car solution. Zong 4G Smart Car solution takes the 4G users in a new realm of digitalization, by offering three features in one innovative vehicle onboard diagnostics OBD –II

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Banks start process to receive Hajj applications

ISLAMABAD (Sarzameen News)- The designated branches of banks have started receiving Hajj applications across the country from Monday. According to spokesperson of the Ministry of Religious Affairs and Interfaith Harmony Imran Siddiqi, Hajj applications will be received from intending pilgrims till 24th of this month at thirteen designated bank branches across Pakistan, including Azad Kashmir. He

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Chinese national suspected of ATM skimming arrested in Karachi

KARACHI (Sarzameen News)- Security forces on Sunday arrested a Chinese national involved in ATM scandal from Karachi’s Defence area. As per statement issued by the SSP East, law enforcers received a call early Sunday morning about a Chinese suspect skimming ATMs at Summit Bank and Muslim Commercial Bank in Tipu Sultan Road’s Shabbirabad area. The officials

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Further depreciation in Pakistani rupee to pose short-term challenges: Moody’s

ISLAMABAD (Sarzameen News)- Moody’s Investors Service on Tuesday reported that the Pakistani rupee (PKR) will likely face ongoing depreciation pressures against the US dollar after a 5% downward adjustment last month. “If the PKR depreciates markedly further, the country’s central bank will face the difficult challenge of anchoring inflation expectations at moderate levels,” the ratings agency

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Dollar hits 113 rupees in open market

KARACHI (Sarzameen News)- Dollar in open market recorded substantial gain on the central bank ruling curbing imports of dollar from the exchange companies. Dollar in the open market hit 113 rupees on back of the last week ruling where by exchange companies could only import around 35 percent against the surrender of small foreign currencies while

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Dollar price goes up by Rs 1 in open market

KARACHI (Sarzameen News)- Dollar price went up in the open market by Rs 1 and it closed on Rs 112.50 as there was an increase in buyers of the US currency. According to an exchange company representative, there was a high purchase of the US dollar which resulted in depreciation of Pakistani rupee. It was also

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SBP takes measures for denomination of foreign currency transactions in Chinese Yuan

KARACHI (Sarzameen News)- State Bank of Pakistan has taken comprehensive policy related measures to ensure that imports, exports and financing transactions can be denominated in Chinese Yuan (CNY). The measures have been taken in the capacity of the policy maker of financial and currency markets. Both public and private sector enterprises (i.e. both Pakistanis and Chinese)

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Pakistan stock market’s bumpy ride in 2017

KARACHI (Sarzameen News)- Pakistan Stock Exchange once a shinning star, now huddled by political and economic events. Index lost 15.4% in 2017. Pakistan Stock Exchange which was one the best performing markets in the global arena in 2016 portrayed a different picture in 2017 and the ride was quite bumpy and benchmark 100 index during whole

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